South Sudan: 22 Million Barrels of Oil Sold Since Independence

Posted October 6th, 2011 at 9:00 am (UTC-5)
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The new nation of South Sudan says it has sold 22 million barrels of crude oil for export since its split from the north three months ago.

The country’s petroleum and mining ministry says the value of the exports totals more than $2.1 billion.

A ministry statement says the oil is being transported to buyers in Asia and Europe through northern Sudanese facilities.

South Sudan took control of about 75 percent of Sudanese oil when it declared independence from Sudan July 9. But since the new African country is landlocked, it must rely on pipelines that run through the north and use Khartoum’s export terminal on the Red Sea.

South Sudan has accused Sudan of waging economic war by charging high transit and custom fees.

The two countries are still negotiating terms for sharing oil revenues.

They also have not resolved which side will control the oil-rich Abyei region.